As of the right moment, CafeSwap is available on the BSC as well as Polygon. Blockchains like BSC’s and polygons are still in their infancy. Other than that, they vary greatly from the leader-ledger. Stats indicate that DeFi protocols are now handling around $174 billion, which is very flavorful. More so, everyone is invested in a wide range of assets across several blockchains.
The cryptocurrency Ethereum, in particular, claims to have the largest market share, with moreover $83 billion in total market capitalization. Its competitive advantage stems from its position as the first mover. Meanwhile, the Binance Smart Chain (BSC), which received $24 billion, is the second most valuable cryptocurrency globally. Then Polygon gets more than $4 billion.
Let’s learn more about CafeSwap, its ecology, and its goods in this post.
Introduction: What is CafeSwap?
Cafeswap is a Binance Smart Chain yield farming and staking platform, powered by an incredible community and directed by skilled staff. The developers, designers, and marketers at CafeSwap Finance are working together to reinvent BSC yield farming and staking. Its goods are positioned to provide the greatest value to platform customers while also giving it a distinct advantage over competitors’ offerings.
The integration between CafeSwap and Polygon ended on September 22, and the formal token exchanging began on September 25. The introduction of CafeSwap is a watershed moment for DEX, yield farming, and the NFT staking protocol to release new solutions aimed at customers and improve the situation. CafeSwap was originally introduced on the BSC, giving the Ethereum competitor’s growing DeFi sector a new spirit. DeFi protocols, as previously stated, are gaining momentum as the pace of adoption rises. On September 26, CafeSwap TVL had a market capitalization of over $6.8 million. CafeSwap uses the AMM paradigm for financial inclusion and also provides yield farming.
The CafeSwap Ecosystem Tokens BREW and MOCHA
CafeSwap’s main token is the BREW governance token. Holders of tokens may vote on issues such as block emission and fee distribution, among other things. Holders have control over how the protocol is designed and implemented.
The MOCHA token has a 500k total supply. MOCHA is a rare natural mixture that contains NFT components. Dual farming and NFT Dual Reward Booster Staking are also possible. NFT staking will eliminate 1% of MOCHA’s total supply, making it deflationary. CafeSwap dual staking participants will get MOCHA, with 5% of the collected tokens being burnt.
CafeSwap further promises that holders of unusual tokens will be given Pampering anytime they want to invest in projects that are launching on its platform. BREW is now trading at $0.5854, while MOCHA is currently trading at $9.22. BREW has a market worth of 3.6 million dollars, a circulating supply of 6.7 million dollars, and has burned 616,849 tokens.
Due to the Binance Smart Chain’s compatibility, the CafeSwap addon to Polygon has no limitations. CafeSwap has announced that the pBREW governance would power their DEX in Polygon. BREW & MOCHA on the BSC will automatically transfer to the POlygon through AnySwap Bridge, allowing holders to cross-chain-farm. Farming will be available on BSC soon, thanks to the Polygon-exclusive pBREW token.
CafeSwap’s absence from Polygon is owing to the network’s current condition. Polygon is compatible with several different blockchains, including Ethereum. Furthermore, Polygon is recognized for its transaction processing speed and scalability. Moreover, it has a cheaper transaction cost, is decentralized, and is one of the fastest-growing ecosystems with 60 million unique addresses, over 500 hosted decentralized applications, and over 600 million completed transactions. These are why many projects built on BSC or Ethereum are migrating to Polygon to take advantage of interoperability.
Products from CafeSwap
CafeSwap will continue to add new items to the Polygon to maintain consistency. Some items, such as the CafeSwap Portfolio, will be live on September 26. Users may keep track of their cash flow, product sales, and farm revenue all in one location. CafeSwap Migrate is a tool for transferring LP tokens from Polygon-based DEXes such as AnySwap, SushiSwap, and others to the CafeSwap protocol.
The goal of CafeSwap Trade Mining is to encourage token exchanging on the blockchain. CafeSwap intends to give up to 50 million pBREW tokens to trade miners to exchange tokens on the CafeSwap DEX in the future. CafeSwap will also hold a Trading Competition starting at 13:00 UTC on September 27. Traders may compete for Apple goods and pBREW rewards based on trading volumes on the pBREW-USDC, BREW-USDC, MOCHA-USDC, MATIC-USDC, and ETH-USDC pairings.
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